Dave & Buster’s Entertainment (NASDAQ:PLAY) Trading 9.8% Higher – Here’s Why

Shares of Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) shot up 9.8% during trading on Monday . The stock traded as high as $37.41 and last traded at $37.40. 395,328 shares were traded during trading, a decline of 68% from the average session volume of 1,248,920 shares. The stock had previously closed at $34.05.

Wall Street Analyst Weigh In

PLAY has been the topic of several research analyst reports. StockNews.com cut shares of Dave & Buster’s Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Truist Financial dropped their price target on Dave & Buster’s Entertainment from $64.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. BMO Capital Markets decreased their price objective on Dave & Buster’s Entertainment from $65.00 to $55.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Loop Capital reduced their target price on shares of Dave & Buster’s Entertainment from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, Benchmark initiated coverage on shares of Dave & Buster’s Entertainment in a research note on Monday, October 7th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.57.

Dave & Buster’s Entertainment Trading Up 6.6 %

The company has a quick ratio of 0.14, a current ratio of 0.24 and a debt-to-equity ratio of 4.54. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 13.42 and a beta of 2.13. The firm has a 50 day moving average price of $35.63 and a two-hundred day moving average price of $38.35.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last posted its quarterly earnings data on Tuesday, September 10th. The restaurant operator reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.28. The firm had revenue of $557.10 million during the quarter, compared to analyst estimates of $560.65 million. Dave & Buster’s Entertainment had a return on equity of 51.75% and a net margin of 5.10%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. As a group, equities analysts forecast that Dave & Buster’s Entertainment Inc will post 2.62 earnings per share for the current year.

Insider Activity

In other Dave & Buster’s Entertainment news, CEO Christopher Daniel Morris bought 14,912 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was bought at an average cost of $33.67 per share, with a total value of $502,087.04. Following the completion of the transaction, the chief executive officer now directly owns 83,847 shares in the company, valued at approximately $2,823,128.49. The trade was a 21.63 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Dave & Buster’s Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of PLAY. Louisiana State Employees Retirement System boosted its stake in shares of Dave & Buster’s Entertainment by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 16,200 shares of the restaurant operator’s stock worth $645,000 after buying an additional 300 shares during the last quarter. GDS Wealth Management boosted its position in Dave & Buster’s Entertainment by 3.3% in the third quarter. GDS Wealth Management now owns 15,202 shares of the restaurant operator’s stock worth $518,000 after purchasing an additional 488 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Dave & Buster’s Entertainment by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,757 shares of the restaurant operator’s stock valued at $1,425,000 after purchasing an additional 546 shares during the period. Kimelman & Baird LLC purchased a new stake in shares of Dave & Buster’s Entertainment during the 2nd quarter valued at $28,000. Finally, Cerity Partners LLC raised its stake in shares of Dave & Buster’s Entertainment by 3.2% during the 3rd quarter. Cerity Partners LLC now owns 23,204 shares of the restaurant operator’s stock worth $790,000 after purchasing an additional 710 shares during the period. 91.45% of the stock is owned by hedge funds and other institutional investors.

Dave & Buster’s Entertainment Company Profile

Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families. Its venues offer a menu of entrees and appetizers, as well as a selection of non-alcoholic and alcoholic beverages; and an assortment of entertainment attractions centered on playing games and watching live sports, and other televised events.